This utility for MT5, for MT4 you can get here.
This script is useful for getting information about the correlation (whether positive or negative) between all 28 forex instruments. It also provides information about the Average Daily Range (ADR) for each instrument.
You can set the time frame, the amount of data, the type of data used (there are 5 options : Median, Typical, Weighted, HLOC/4 and Stochastic), the level of correlation and color.
To use this EA you should attach it on any chart with any time frame.
- Candle counted to calculate correlation
- Correlation calculated by
- Correlation level
- color of symbol
- color of table
- color of button
- color of active trade
- color of positive correlated
- color of positive not correlated
- color of negative correlated
- color of negative not correlated